Reuters: OPEC production down in January due to new cuts

A survey conducted by Reuters showed that OPEC’s oil production in January recorded its largest monthly decline since July, as a number of members adopted new voluntary production cuts in accordance with what was agreed upon within the framework of the OPEC+ alliance, while the disruptions undermined Libyan production.

The survey concluded that the Organization of the Petroleum Exporting Countries (OPEC) pumped 26.33 million barrels per day this month, a decrease of 410,000 barrels per day from December.

The December total excludes Angola, which exited OPEC.

The Reuters survey aims to track supplies to the market and is based on shipping data provided by external sources, flow data from the London Stock Exchange Group, information from companies that track flows such as Petro-Logistics and Kpler, and information provided by sources in oil companies, OPEC, and consulting companies.